Contents
• Aquamarine Power & Oyster
• How does it happen?
– Stages of development, funding & types of funding
– How and w...
Aquamarine Power
How Oyster works

4
Near shore Advantages
Lower total energy in the near shore…
But greater assessable proportion
Fixed reaction point, as the...
Oysters
Oyster 1
• 315kW demonstration device
• Grid-connected 2009
• >6000 operating hours
• 100kW generation, Peak power...
Stages of development & funding

Idea / concept research
High level design
Component and scale testing
Detailed design
Bui...
Stages of development & funding

Idea / concept research
High level design
Component and scale testing
Detailed design
Bui...
Stages of development & funding

Idea / concept research
High level design
Component and scale testing
Detailed design
Bui...
Stages of development & funding

Idea / concept research
High level design
Component and scale testing
Detailed design
Bui...
Presenting the case
What should you know:
• Development plan?
• Equity requirements?
• Forecast returns?
• Risks?
• Invest...
Keeping funding
What happens when things don’t go to plan?
• Change management is key!
• Change requests
– Set tolerances ...
Example 1 - Oyster
Initial design
concept research

Detailed
design

Build and full scale testing

Component and
scale tes...
Example 2 – Oyster Flap
Starting point

Steel Construction

✗ Concrete
✗ Plastic
✗ Fabric
✗ Rubber

Other Material

FRP Co...
Example 2 – Oyster Flap
• Flap
– Material - Steel FRP
• 393 tonnes  100 tonnes

– Shape – 18m  26m wide
• 250% the ener...
21
DR Garth Bryans
Head of New Tech & Eng. Forecasting
AQUAMARINE POWER
ELDER HOUSE, 24 ELDER STREET
EDINBURGH
EH1 3DX
UNITED...
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Energy Storage Solutions for an Intelligent Future, Garth Bryans, Aquamarine Power & Oyster

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Energy Storage Solutions for an Intelligent Future, Garth Bryans, Aquamarine Power & Oyster

  1. 1. Contents • Aquamarine Power & Oyster • How does it happen? – Stages of development, funding & types of funding – How and when to present a case for funding – Managing change and maintaining funding • Aquamarine Power & Technology development – Examples of technology development • How this has worked for us?
  2. 2. Aquamarine Power
  3. 3. How Oyster works 4
  4. 4. Near shore Advantages Lower total energy in the near shore… But greater assessable proportion Fixed reaction point, as the sea bed 5
  5. 5. Oysters Oyster 1 • 315kW demonstration device • Grid-connected 2009 • >6000 operating hours • 100kW generation, Peak power close to 300kW. Oyster 800 • 800kW demonstration device • Installed Sept 2011 • First electrical power June 2012 • Improved power generation • Simplified marine installation 6
  6. 6. Stages of development & funding Idea / concept research High level design Component and scale testing Detailed design Build and full scale testing Very valuable (don’t rush this) • Wide scope • Wide range of solutions & options • Low cash requirements Funding • This is normally funded through limited but flexible R&D budgets • Universities, research councils, R&D departments etc. Outputs • Concept business plan • KPIs to support this • Concept design
  7. 7. Stages of development & funding Idea / concept research High level design Component and scale testing Detailed design Build and full scale testing Risk reduction • Identify the areas of greatest risk • Further research to reduce risk Funding • Seed funding for a specific scope • Normally from early stage investors, or those who could benefit from the business plan e.g. suppliers Outputs • Revised, lower risk business plan • KPIs of design • High level design • Detailed testing and design plan
  8. 8. Stages of development & funding Idea / concept research High level design Component and scale testing Detailed design Build and full scale testing Design • Narrow scope • Use component / scale testing to reduce uncertainty in the design • Design against the KPIs. E.g. cost, performance etc. Funding • Requires a larger amount of investment • Normally from large players in the sector, customers and suppliers • Can attract grant aid Outputs • Revised, lower risk business plan • KPIs of design • Design and build plan
  9. 9. Stages of development & funding Idea / concept research High level design Component and scale testing Detailed design Build and full scale testing Purpose is to verify design and cost estimates. This should justify the business plan. Funding • Often the same as before but suppliers sometimes consider this to be an exit point at which they expect an order Outputs • Verification of business plan & KPIs • Demonstration of product to customers
  10. 10. Presenting the case What should you know: • Development plan? • Equity requirements? • Forecast returns? • Risks? • Investment gates • KPIs? • What are you prepared to offer for investment? IP, shares, sales contracts, other?
  11. 11. Keeping funding What happens when things don’t go to plan? • Change management is key! • Change requests – Set tolerances on the KPIs for the project – Assess change requests against the KPIs – Report exceptions accordingly • Meet with the funders regularly to talk through all the small changes as they happen. This prevents any surprises at the end • Maintain an up to date plan demonstrating the effect of any changes on the funding requirements and expectations
  12. 12. Example 1 - Oyster Initial design concept research Detailed design Build and full scale testing Component and scale testing Queen’s University Belfast 16
  13. 13. Example 2 – Oyster Flap Starting point Steel Construction ✗ Concrete ✗ Plastic ✗ Fabric ✗ Rubber Other Material FRP Construction Mass production Cost Target
  14. 14. Example 2 – Oyster Flap • Flap – Material - Steel FRP • 393 tonnes  100 tonnes – Shape – 18m  26m wide • 250% the energy production 18
  15. 15. 21
  16. 16. DR Garth Bryans Head of New Tech & Eng. Forecasting AQUAMARINE POWER ELDER HOUSE, 24 ELDER STREET EDINBURGH EH1 3DX UNITED KINGDOM Tel: Mobile: Email: Web: +44 131 524 1436 +44 7503881503 garth.bryans@aquamarinepower.com www.aquamarinepower.com

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